“The latest data for
August shows that although our population grew slightly our labour force,
participation rate and the number of full-time jobs all decreased. Meanwhile,
total employment remained unchanged. These are concerning signs when August is
one of our busiest months of economic activity,” says
Compton.

Statistics Canada
labour force data for August shows that the total labour force shrank by 800 and
that the Island economy lost 200 full-time positions, partially offset by an
increase of 100 part-time positions. More troubling is the fact that there are
2800 fewer full-time jobs in the economy in August compared to August
2014.

Compton also noted
that the sluggish jobs data is troubling considering the heavy reliance that
government has placed on economic growth to meet its budget
targets.

“The government has
been very optimistic in its revenue projections for the year but when we see a
year to year drop in full time jobs of 2800 it’s hard to see what that optimism
is based on,” says Compton.